Contracts
A NH commercial real estate purchase agreement often includes a 'representations and warranties' section because:
AIt is only required for transactions over $1 million
BIt specifies material facts each party represents as true, providing legal recourse if any representation is false✓ Correct
COnly the seller makes representations; the buyer makes none
DIt replaces the need for a title search
Explanation
Representations and warranties in a commercial contract allow each party to make specific factual claims (e.g., 'no environmental violations,' 'leases are as represented') with legal remedies if those claims turn out to be false.
Related New Hampshire Contracts Questions
- In a NH real estate contract, a 'rider' or 'addendum' is best described as:
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- In New Hampshire, an addendum to a purchase and sale agreement must be:
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